Bronze Brick Company Uses the Following Rule to Determine Whether

question 129

Essay

Bronze Brick Company uses the following rule to determine whether materials usage variances should be investigated:
A materials usage variance will be investigated when the variance is greater than either $5,000 or 12% of the standard cost.
During May,the company purchased and used 11,000 kg of concrete for $5 per kilogram.It was able to make 20,000 bricks.Its standard quantity of materials allowed is 0.50 kg of concrete per brick at a standard price of $6.50 per kilogram.
A. Determine Bronze's material usage variance and whether it is favourable or unfavourable.
B. Should the vari ance be investigated?

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Definitions:

Poverty Line

A calculated income level used to determine an individuals or families' economic status and whether they are considered living in poverty.

Census

A systematic enumeration of the population, typically recording various details of individuals.

New Hope Study

A research project investigating the effects of providing low-income individuals and families with a combination of income supplements and access to work opportunities on employment, income, and children's well-being.

Optimistic

Having a hopeful or positive outlook on the future, expecting the best possible outcome.